Luxury car segment to swell by almost 500% by 2020: Eberhard Kern

Luxury passenger vehicle market has been growing even when
the times were bad. The segment clocked nearly 33,000 units of annual sales last year, contributing about 1.3% of the total passenger vehicles sold in the
country. Eberhard Kern, MD & CEO of Mercedes Benz India, believes that this
share of luxury passenger vehicle could surge to 3 to 3.5% of the total passenger
vehicles sales by 2020. Passenger vehicle annual sales is expected to be 5
million in India in the next five years from about 2.8 million now.23 May 2015, 10:40 AM IST| Duration: 10:15